The price of gold reported its best performance in almost three decades, according to a new report from the World Gold Council (WGC).
During the first quarter of 2016, gold price rose by 17% in US dollars, 20% in British pounds, 11% in Euros and 9% in Japanese Yen. It was also up 16% in Chinese Renminbi and Indian Rupee terms, and 12% Turkish Lira.
According to the WGC, gold’s “strong rally” made it one of the best performing global assets during the first quarter of the year.
The report said: “The return on gold significantly outperformed other major stock, bond and commodity indices.
“We believe that market uncertainty and expansionary monetary policies will continue to support both investment and central bank demand. This, combined with an analysis of previous bull-bear cycles, suggests we may be entering a new bull market for gold.”